Canadian Imperial Bank of Commerce Reiterates C$134.00 Price Target for George Weston (TSE:WN)

Canadian Imperial Bank of Commerce set a C$134.00 target price on George Weston (TSE:WN) in a research note issued to investors on Thursday morning,BayStreet reports. The firm currently has an outperformer rating on the stock.

Separately, BMO Capital Markets upgraded George Weston from a “hold” rating to an “outperform” rating and raised their price objective for the stock from C$103.00 to C$113.00 in a research note on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$115.83.

George Weston Stock Down 3.5%

Shares of WN opened at C$105.91 on Thursday. George Weston has a 12 month low of C$83.18 and a 12 month high of C$111.49. The firm’s 50 day moving average is C$101.35 and its 200-day moving average is C$100.48. The stock has a market capitalization of C$39.63 billion, a PE ratio of 41.53, a P/E/G ratio of 5.03 and a beta of 0.22. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 438.92.

George Weston (TSE:WN) last released its quarterly earnings results on Friday, July 31st. The company reported C$1.08 earnings per share for the quarter. The company had revenue of C$15.20 billion during the quarter. George Weston had a net margin of 1.59% and a return on equity of 20.42%. Equities research analysts forecast that George Weston will post 13.02 EPS for the current year.

Insider Buying and Selling

In related news, insider Richard Dufresne sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of C$98.56, for a total transaction of C$1,971,200.00. Following the completion of the sale, the insider owned 19,911 shares of the company’s stock, valued at C$1,962,428.16. This represents a 50.11% decrease in their ownership of the stock. Insiders sold a total of 70,000 shares of company stock valued at $7,017,600 over the last three months. 59.41% of the stock is owned by insiders.

George Weston Company Profile

George Weston is a holding company that operates through two subsidiaries encompassing retail and real estate. The first is Loblaw, the largest grocer in Canada, in which it has a 53% controlling stake. The second is Choice Properties, an open-ended real estate investment trust, where George Weston’s ownership sits close to 62%. The company sold Weston Foods, a North American bakery, in early 2022, which the firm had previously wholly owned. While the two remaining entities are separate, they operate under a contractual, as well as tacit, framework of strategic business partnerships.